CLIENT ENGAGEMENTS2000-2009

Auburn University – Land Holdings – November, 2009

Auburn University retained our firm to evaluate its real estate portfolio and identify assets with revenue-generating potential to help augment the school’s operating budget, due to state budget cuts. This analysis focused onselected properties near the main campus, as well as land holdings spread throughout the State of Alabama, that were not instrumental to the university’s academic and research mission.

9± Acres – Downtown Atlanta – July, 2009

An investor group was in the process of assembling nine acres in Downtown Atlanta near the Georgia Dome and requested a highest and best use analysis of the property. The study involved a thorough evaluation of supply and demand conditions in the residential, retail, hotel, and student housing markets. A detailed analysis of applicable financial incentives was also provided.

8.27 Acres – Milton, Georgia – January, 2009

SunTrust Bank is the trustee for an estate property located in Milton, Georgia. The property is currently improved with a soccer complex leased to the YMCA. Our role was to evaluate the property’s highest and best use in order to advise the trustee about future options for the property.

2,330.2 Acres – South Fulton County, Georgia – October, 2008

We were retained by the Shugart family to evaluate an assemblage of 2,330.2 acres in south Fulton County along the Interstate 85 corridor. The property is broken up into several clusters and offers a full range of development possibilities. Our goal was to provide an objective assessment of the property and market in order to help formulate the optimal development/investment strategy.

1,719 Acres – Banks County, Georgia – July, 2008

Shalom Farm, Inc. owns 1,719 acres in Banks County, Georgia. This property was assembled in the 1950s by the grandfather of its current owners. Our firm performed a highest and best use analysis, and was subsequently retained to handle its disposition.

131 Acres – Phenix City, Alabama – May, 2008

A realtor in Phenix City owns 131 acres comprised of six tracts. This land is located on U.S. Highway 80 at a new interchange with River Chase Drive in Phenix City. Much of the property fronts the Chattahoochee River or Lake Oliver. Our role was to help formulate the optimal development/investment strategy.

144.8 Acres – Columbus, Georgia – May, 2008

This property is strategically located on River Road in northwest Columbus. It is zoned for a planned unit development with up to 407 residential units. The owners wanted advice about the property’s best use, as well as pricing recommendations.

23.55 Acres – Columbus, Georgia – March, 2008

We were asked to evaluate the highest and best use of 23.55 acres in Columbus, Georgia. The property is partially improved with older industrial buildings, some of which are currently vacant. The goal was to determine how to capitalize on the property’s location and unique attributes.

142 Acres – East Ellijay, Georgia – February, 2008

Our firm was retained to help formulate the optimal development strategy for this property, which is located just east of Georgia 515. Several potential land uses were explored.

307 Acres – Shreveport, Louisiana – June, 2007

Willis-Knighton Health System owns several hospitals in Shreveport, Louisiana. The decision was made to enter the senior housing business as a natural extension of Willis-Knighton’s mission and desire to serve the community. We were engaged to explore complimentary land use options for a 307-acre tract that was acquired in southeast Shreveport.

Downtown Site – Greenville, South Carolina – May, 2007

TIC Propertieshas assembled a prime site in downtown Greenville. We were asked to evaluate the property’s highest and best use in order to help formulate the optimal development strategy. Downtown Greenville has enjoyed a tremendous renaissance.

202 Acres – Henry County, Georgia – April, 2007

Henry County is one of the fastest growing counties in the United States. This 202-acre property is located in the southern part of the county and is currently improved with a mobile home park. The owner wanted advice on the property’s best use and development timing.

Collier Center – Northwest Atlanta – December, 2006

This industrial park occupies 12.76 acres at Collier Road and Interstate 75. It is currently improved with 159,189 square feet of space. The longtime owners wanted to examine redevelopment possibilities, particularly for multi-family housing development.

Weston – Cary, North Carolina – December, 2006

This suburban office park was started in the 1980s just west of Raleigh. A slowdown in the office market in 2001 led the owner to initially retain us to explore alternative land uses. Five years later, after the successful disposition of 104 acres, we evaluated the remaining land.

Georgian Hills – Atlanta, Georgia – October, 2006

This older apartment complex sits on 18.66 acres on Collier Road in intown Atlanta. Given the property’s age and rising land values, the owner was considering redevelopment. Our role was to help examine different options.

Horse Farm – Woodstock, Georgia – June, 2006

A beautiful 87-acre horse farm near downtown Woodstock was part of an estate. We were asked to assess the property’s development potential in order to judge its value. Given its location, size, and physical attributes, a mixed-use development made great sense.

Fenner Dunlop Plant – Scottdale, Georgia – December, 2005

A company that manufactures conveyor belts was contemplating the possible relocation of its plant, which occupies 13.6 acres near downtown Avondale Estates. Our role was to determine the property’s highest and best use in order to gauge its potential disposition value.

306 Acres – Knightdale, North Carolina – August, 2005

A family owned this property just outside of Raleigh. The circumferential highway had just been extended through the property. Our role was to help an Atlanta developer evaluate the property’s highest and best use.

270.5 Acres – Hall County, Georgia – September, 2005

A family hired us to examine a large tract of land in Hall County, just north of Atlanta. They wanted input on various land use options, as well as advice on development timing. A central issue was the pace and character of development advancing along the Interstate 985 corridor.

Crossroads Business Center – Savannah, Georgia – July, 2004

The Savannah Economic Development Authority (SEDA) developed a 1,600­-acre business park near the airport to help attract new industry. The park has proven extremely successful. We were asked to determine the best use for one of the last remaining parcels, a prime 102.8-acre tract located along Interstate 95.

Highest and Best Use Analysis – Lawrenceville, Georgia – May, 2004

This 100 acre property is strategically located at Georgia 316 and Riverside Drive. The land was originally acquired to expand an existing industrial park, but market changes led to the exploration of alternative industrial uses.

Highest and Best Use Analysis – Athens, Georgia – December, 2003

The Terrell family owns a two-acre parcel near downtown Athens. The family had received an offer for the property and retained us to evaluate this offer in tandem with analyzing the highest and best use of the site.

Highest and Best Use Analysis – Smyrna, Georgia – December, 2003

RACO General Contractors, Inc. asked us to evaluate the highest and best use of a 29.6-acre site located on the East-West Connector in Smyrna, Georgia. Our role was to explore alternative development/investment strategies for the site.

Distressed Condominiums – Sandy Springs Area – September, 2002This 38-unit condominium development struggled since opening in early 2002. The developer was trying to figure out what could be done to stimulate sales velocity. Our role was to provide an independent and objective assessment of the property and market in order to provide constructive advice.

Overview of High-Rise Condominium Market – Atlanta, Georgia – April, 2001Millennium Partners, a New York developer, wanted a comprehensive overview of the high-rise condominium market in Atlanta. This group owns a prime 4-acre site in Buckhead, and has been actively developing luxury condominiums atop hotels in cities across the country.

Condominium Conversion Study – Houston, Texas – March, 2001An Atlanta developer had contracted to buy the City Plaza apartment complex located near the Texas Medical Center in Houston, Texas. Plans were to convert this 246-unit complex to condominiums. Our role was to provide a thorough and objective assessment of this conversion opportunity.

Condominium Market Analysis – Omni Hotel – September, 2000Turner Properties is planning a 593-room expansion of the Omni Hotel by adding a new tower on the current site of the ballroom. We evaluated the merits of adding residential condominiums atop the hotel tower by assessing competitive market conditions, potential demand sources, and anticipated return on investment.

Assessment of Alternative Uses – Atlanta, Georgia – February, 2000

Post Properties had long held an option to buy 1.9 acres located at 2626 Peachtree Road. The company had formulated plans for a high-rise apartment tower, but asked our firm to weigh the merits of all options before proceeding with development.

Apartment Feasibility Study – Myrtle Beach, South Carolina – January, 2000Realty Development Corporation, an Atlanta developer, had placed a contract on an apartment site in the Barefoot Resort and Golf Club in Myrtle Beach. This 2,379-acre, master-planned community included four signature golf courses and a variety of housing types. Our role was to assess the feasibility of a proposed 269-unit apartment complex with ground-level retail space.